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Old 01-14-2018, 04:55 PM
 
8,021 posts, read 6,230,331 times
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Quote:
Originally Posted by jrkliny View Post
There is no shortage of unskilled workers for retail jobs. If that ever occurs, wages will go up in order to attract enough people to work in retail. In most parts of the country skilled workers are in high demand. College educated are also in high demand with less than 3% unemployment for the past several years.
Of there isn't. However if everyone in this country had an attitude of becoming more skilled to get better pay. Then yes no one would want to work retail since their skill set would be far above it for the wage paid.
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Old 01-14-2018, 05:39 PM
 
Location: Ruidoso, NM
5,170 posts, read 4,737,218 times
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Quote:
Originally Posted by C2BP View Post
Sadly higher wages drive the push towards increased efficiency and automation. That drives a decrease in jobs. In economics things have a trade off.
We aren't going to stop automation and AI from progressing rapidly by creating a poor working class. Neither would we want to!

There is no tradeoff. Higher productivity makes us richer, and so does pushing some of the wealth down to the lower levels (higher consumption/production).
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Old 01-14-2018, 05:40 PM
 
Location: Ruidoso, NM
5,170 posts, read 4,737,218 times
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Quote:
Originally Posted by Elliott_CA View Post
Here's why unemployment fell while wages went up: Our economy is constrained by a shortage of money at the bottom and an excess of money at the top. Raising wages at the bottom gives the working poor more money to spend. They spend it at local businesses, who see rising demand and sales, and who then hire up to meet that rising demand.
Really simple arithmetic! Amazing that so many "economists" have trouble when more than one variable must be considered.
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Old 01-14-2018, 05:43 PM
 
9,108 posts, read 3,718,308 times
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Quote:
Originally Posted by rruff View Post
There is no tradeoff. Higher productivity makes us richer, and so does pushing some of the wealth down to the lower levels (higher consumption/production).
it only works its way down to people who have jobs...

tell that to all the people who no longer have jobs due to labor costs and labor reduction
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Old 01-14-2018, 06:09 PM
 
Location: Florida
4,395 posts, read 2,435,481 times
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Everything will go up except fixed incomes like Social Security and pensions.
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Old 01-14-2018, 06:12 PM
 
Location: Ruidoso, NM
5,170 posts, read 4,737,218 times
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Quote:
Originally Posted by bpollen View Post
The reason is that LOW INCOME PEOPLE SPEND THEIR MONEY. Not because they're wasteful, but because they don't have much money. So when they get a few extra dollars, they can get those new shoes or the washing machine repaired. This HELPS the economy.
What we've been progressively suffering from for a few decades is an excess of $$$ going to profits and the "investor class". The domestic economy is constrained by consumer buying power, and when that doesn't rise, the wealthy inflate assets and invest overseas.

The economy was best (early 30s to late 70s) when we had the highest degree of wealth redistribution via taxes and wages (MW and unions). It isn't that mysterious.
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Old 01-14-2018, 06:18 PM
 
Location: South Carolina
2,792 posts, read 1,678,093 times
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Quote:
Originally Posted by MLSFan View Post
it only works its way down to people who have jobs...

tell that to all the people who no longer have jobs due to labor costs and labor reduction
Okay and give some evidence that labor costs are causing job loss all you are doing is saying your opinion.
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Old 01-14-2018, 06:38 PM
 
Location: Ruidoso, NM
5,170 posts, read 4,737,218 times
Reputation: 4206
Quote:
Originally Posted by MLSFan View Post
it only works its way down to people who have jobs...

tell that to all the people who no longer have jobs due to labor costs and labor reduction
When that happens it will be time for a BI.

It isn't hard to solve any of these "problems" of excessive prosperity. The idea that we can solve it by forcing the poor to get poorer and poorer is just plain crazy.
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Old 01-15-2018, 12:15 AM
 
511 posts, read 195,922 times
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Quote:
Originally Posted by C2BP View Post
Sadly higher wages drive the push towards increased efficiency and automation. That drives a decrease in jobs. In economics things have a trade off. Those pushing for higher salaries across the board better be ready for the potential fallout which tends to be job loses and inflation. Growing the real economy is harder than just demanding wage increases. People need to read economics books before proposing overly simplistic solutions. Today we have too many people who think they understand economy, but in reality they don't have a clue .

It will be gradual, but many businesses will replace humans with robots. Anyone looking for a job now may get something acceptable. But by 2025, most of the 8 million who are retail store salespeople or cashiers will no longer be able to hold those positions.

There's very troubling news for some employers besides the demands for wage increases. There is a new or should I say renewed lack of interest amongst young people in piling up possessions. They'd probably spend their money on entertainment locally, or travel. They want to live in the downtown of core cities, in a condo, apartment or house, shared by as many people as city or landlord allows.

So, suburbs may become more blighted than central cities, as mentally ill, druggies and homeless start living in stores of semi-abandoned shopping malls. Not saying people should stop applying there just yet, bit opportunities will be best in other places by 2025 if not sooner. Another effect could be dropping house prices in suburbs, perhaps attracting the middle aged to stay or move there. Old people don't want to add possessions as they don't know when they'll die and don't want next of kin to be burdened selling.

Now young people drive by a 5,000 square foot home and just say what a waste. The people who were told they should have a monument to their ego with a $20 million mansion will be dying and not replaced by any people that think that way. Maybe those mansions can be sub-divided into apartments to avoid teardown.

The US may lose mega-millions to Canada and Mexico, as they're legalizing a favorite product of nearly 50 million in US in 2018. Our gov't seems too stupid to want those businesses, customers, taxes.
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Old 01-15-2018, 12:17 AM
 
9,108 posts, read 3,718,308 times
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Quote:
Originally Posted by Storm Eagle View Post
Okay and give some evidence that labor costs are causing job loss all you are doing is saying your opinion.
Red Robin layoffs show how minimum wage hikes put millennial jobs at risk

seriously, google is fairly simple to use... all you do is type into the only box on the screen
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